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| Eight of top-10 firms lose Rs 85,000 cr in m-cap |
| Press Trust of India / Mumbai Jan 31, 2010, 16:18 IST |
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Eight out of the 10-most valued firms saw their market capitalisation (m-cap) tumble by as much as Rs 85,000 crore till date in 2010, as the stock markets witnessed a down-slide.
While, NTPC lost the most (Rs 17,686 crore) from its valuation, the second most valued firm ONGC saw its m-cap decline by Rs 16,629 crore in January.
At the end of Friday's trade, m-cap of NTPC and ONGC stood at Rs 1,76,658.98 crore and Rs 2,35,232.92 crore, respectively.
RIL, numero-uno in the list of top-10 firms, witnessed value erosion of Rs 15,809 crore from its m-cap. RIL's valuation stood at Rs 3,42,231.27 crore.
Meanwhile, two state-run companies -- NMDC and BHEL-- together added Rs 29,633 crore to their valuation during the month ended January 31.
The country's largest iron ore producer NMDC jumped to the third spot from the fifth after adding a major chunk of Rs 29,616.31 crore to its valuation during the month on government's stake divestment plans.
NMDC, whose valuation at the end of Friday's trade stood at Rs 1,97,204.18 crore, has filed draft prospectus for a follow-on-public offer with Sebi for diluting 8.38 per cent government stake.
Besides, state-run BHEL saw its valuation rising by a meagre Rs 17 crore to Rs 1,17,800.54 crore during January.
While NTPC fell one-spot to the fourth place in the list, MMTC skid to fifth slot from fourth by losing Rs 2,780 crore from their valuation to Rs 1,69,456.5 crore during the month.
Top outsourcing firm TCS inched up to sixth place from seventh spot despite losing Rs 2,799 crore from its m-cap and Infosys Technologies slipped to 7th from 6th after losing Rs 7,373 crore from its valuation.
TCS's total market valuation stood at Rs 1,43,942.27 crore and Infosys Technologies at Rs 1,42,048.65 crore.
The country's largest public sector lender SBI stood at the 8th position after losing Rs 13,424.54 crore. At the end of Friday, SBI's valuation stood at Rs 1,30,658 crore.
Besides, state-run power equipment maker BHEL stood at the ninth spot.
Bharti Airtel slipped to 10th position from ninth after losing Rs 13,424.5 crore from its valuation, taking its valuation to Rs 1,16,376.82 crore.
The month also saw funds and investors pressing the panic button, pulling down the Sensex by 1,106.85 points to below 17K level to 16,357.96 points at the end of the Friday's trade on the Bombay Stock Exchange.
Meanwhile for the week ended January 30, nine out of top-10 companies lost Rs 51,087 crore from their m-cap, while state-run BHEL was the only firm which was able to buck the fall and added Rs 1,676.61 crore to its valuation.
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